You can also provide your phone number if you’d like to opt in to receiving calls about our later life mortgages. Find out the maximum monthly income you could receive on this special type of lifetime mortgage. Nationwide is entering the equity release space with the launch of a Lifetime Mortgage product for borrowers aged between 55 and 84. To speak with us about your equity release options, call the number below.For any other enquiries please get in touch via our contact us page, Monday to Sunday 8:30am - 8:00pmWe may record and monitor calls. This calculator helps you see how much equity you could release with a lifetime mortgage, a loan secured against your home. Interest is charged on the loan plus any interest already added. An equity release calculator is a great tool to use if you are over 55 and considering releasing equity from your home without having to sell or move out. If you're interested in a regular income, you can select this to be paid for a set number of years. So here’s the scoop – our intention is to help you by finding the best equity release provider so that you can spend the money on something that you really want to, rather than on a high tax bill. However, you don’t have to make monthly payments, unless you choose to. Lifetime Mortgage. Nationwide aside, most equity release products are from specialist lenders. You may have cheaper ways to borrow money. If you would like us to email you our later life mortgages guide and further information about the products and services provided by Legal & General Financial Advice, please complete your full name and email address. We'll be in touch shortly if we haven't already called. This lifetime mortgage calculator is a great tool for those looking to firstly understand whether equity release can raise enough money for their need(s). Our phone number is 0 8 0 0 1 3 8 1 1 1 1. Your home must be worth at least £100,000. Depending on your personal and financial criteria, the calculator will provide you with maximum release figures for; lifetime mortgages, interest only lifetime mortgages and ill-health lifetime mortgages. Equity release calculator. I live in an area where house prices are going up nicely so keeping 100% ownership of my own home is wise. You can only buy a lifetime mortgage through a financial adviser. Based on the information supplied, you could release up to: Now that you know how much you may be able to release, why not take a look at your options for releasing the money. 0800 028 2855 support@nationwideequityrelease.com Mon - Sun: 08:00 - 20:00 Home; Schemes. Equity Release Calculator. You can opt out of marketing at any time by emailing LGFAoptout@landg.com. Registered Office: Genesis Centre, Science Park South, Birchwood, Cheshire. Company number 6553466. With equity release you don’t have to make monthly payments, unless you choose to, and the loan is usually repaid when the last borrower moves into long-term care or dies. By submitting this form you consent to us calling you to discuss how our later life mortgages may work for you. Details on how we process your information can be found in our privacy policy. As a reminder – equity release is a way of turning some of the value from your home into tax-free cash. Schemes, Calculators, Independent Advice. However if you use a screen reader and require debt advice you may find it easier to phone us instead. An equity release calculator enables you to determine how much money you can release from your home. We offer UK whole of market advice with no upfront fee and without obligation. Take a look at their consumer brochure for more details. Buildings Insurance – An equity release lender will require a copy of your buildings insurance during the equity release application process. Nationwide launches lifetime mortgage showing equity release is becoming more mainstream By The Bower Team / In Company News Nationwide Building Society launches their lifetime mortgage product with the vision to address the needs of an ageing population. If you'd prefer to take a lump sum, or a series of smaller lump sums, and pay off some or all of the interest as you go, take a look at this option. Or, if you'd like to have an income paid for a fixed term rather than a lump sum, take a closer look at our Income Lifetime Mortgage. We'll ask you to register your details to show you the calculation, then give you a call. Instant equity release calculator shows immediately how much equity you could release. Find out how much equity you could release with our Lifetime Mortgage Calculator. No personal Details required. To discuss our Lifetime Mortgages, a loan secured against your home, and if they're right for you. You can opt out of marketing at any time by emailing LGFAoptout@landg.com. Depending on your personal and financial criteria, the calculator will provide you with maximum release figures for; lifetime mortgages, interest only lifetime mortgages and ill-health lifetime mortgages. We'll never share your details with third parties for their own marketing purposes. We'll be happy to help with any questions you might have. We'll never share your details with third parties for their own marketing purposes. Lifetime mortgages are regulated by the FCA, and … A lifetime mortgage is usually repaid when the last borrower dies or moves out of the home and into long term care. You can stay in your own home and you will never owe more than it's sold for (subject to terms and conditions). Nationwide Equity Release can be a very low-cost way of raising money against your home. The loan is usually repaid when the last borrower moves into long term care or dies and your home is sold. When comparing the market. As your management company covers buildings insurance within your service charge, you may need to contact them directly for a … Tweets by AskNationwide Tweets by NBSemployees. You can receive the money as one lump sum or as a series of smaller amounts over time to suit you, You could get a fixed monthly income for a set period of up to 25 years. We aim to make our website as accessible as possible. If you're close to 55, you may feel like you're in a position where you can wait until then. If you'd like to take a lump sum, or a series of lump sums, and pay nothing until you die or move into long term care, select this option. Nationwide has around 15 million members. Depending on if you want a drawdown over time or a lump sum for a new … We have advisers available on a nationwide basis and should a recommendation be accepted, following completion & release of funds, a fee of £995 is charged and we receive a procuration fee from the lender. How to use this calculator. Income periods of between 10 - 25 years are available to meet your retirement income needs. You can continue your journey by choosing to personalise your lifetime mortgage below. If you'd like us to call you about our later life mortgages. How to use this calculator. An equity release calculator enables you to determine how much money you can release from your home. Details on how we process your information can be found in our privacy policy. In the meantime, consider these products. So, the amount you owe can increase quickly over time. If you’re aged 55 to 95 and own a home worth at least £70,000 of a standard construction, use our free equity release calculator to get a quick idea online of how much you could release. FCA no 584063. We'll never share your details with third parties for their own marketing purposes. A lifetime mortgage will reduce the equity left in your home and the value of any inheritance. Entering into a lifetime mortgage or any kind of equity release may reduce the amount of inheritance you can leave for loved ones. Legal & General Home Finance Ltd is a member of the Equity Release Council, a trade body setting standards for providers. Our independent specialist advisers will explain. ⚠️ If you need a regular income, after an initial lump sum, take a look at this option. This means the amount you owe will increase quickly over time. Equity Release for older borrowers with no monthly repayments was exactly what I wanted, and the interest rate was very low. Depending on how you need the money, you can receive it as a one off cash lump sum or as a series of smaller cash sums as and when you need it. Try our free Equity Release Calculator and receive a free guide. Nationwide pays £1,000 cashback to all lifetime mortgage customers, plus there are no arrangement fees, adviser fees or valuation fees to pay. It’s necessary to note that release is a way of releasing the wealth (cash) tied up in your property without the need to move. You can also provide your email address if you'd like to opt in to receiving emails about our products and services. There's more than one way to release your money with one of our Lifetime Mortgages. You'll need to be living in (or buying) your own home with either a small or no mortgage. Our equity release calculator is free and easy to use; Instant online results; We recommend plans which meet the Equity Release Council standards and compare plans from the whole market, including: Guide. The option to take lump sums in the future is not guaranteed and will depend on whether you're still eligible to borrow more money. Equity release is essentially like a long term loan. Interest is charged on the loan, plus any interest already added. This is an estimate of the amount you may be able to release. The traditional equity release lenders; Canada Life and Legal and General have been joined by high street names such as Nationwide Building Society, Santander, TSB and Lloyds Bank. UK Lenders for Equity Release with the financial conduct authority. If you give the money away, the recipient may have to pay inheritance tax in the future. To be specific, if you’re in ill-health, or have any health ailments, then you may be eligible to receive more value for your home equity. There may be cheaper ways to borrow money. To understand the features and risks of equity release schemes please ask for a personalised illustration. Please consider another option. Allowing you to understand your maximum release and schemes available. A lifetime mortgage will reduce an inheritance and may affect your entitlement to means-tested benefits. Equity Release Calculator. Discover Nationwide's suite of equity release products, services and calculators. Equity release is only available to those aged 55 and over. Types of equity release schemes for existing mortgage holders. More2Life; Step Change; Key Retirement; Zurich; Nationwide Building Society Equity Release – likely mortgage holders. If you can afford a monthly payment, you could consider a secured loan or Interest-only lifetime mortgage. Once the fixed income term ends the monthly income will stop but interest will continue to roll up until the lifetime mortgage is repaid. A lifetime mortgage is a loan secured on your home. Your equity release calculator results not only show you how much you could borrow with a lifetime mortgage (the most popular type of equity release plan), but you can also see how much money you could get using an enhanced plan (if you have any health conditions) and an interest-only plan (where you make monthly interest repayments). It's your choice. Free, unbiased and trusted advice. This is particularly a concern in areas where prices aren’t growing much. By providing your email address you're giving consent for us to send you emails with news, information and offers on the products and services provided by Legal & General Financial Advice. To find out how much you could receive, and to get a call back to discuss the product details, please complete the form. The amount you can release depends on your property and individual circumstances. The plans we recommend have a no negative equity guarantee, so … By clicking 'Get result' and submitting this form you consent to us calling you about your results and how our Lifetime Mortgages may work for you. By providing your email address you consent for us to send you emails with news, information and offers on the products and services provided by Legal & General Financial Advice. Provided means that you do n't meet the minimum eligibility criteria for the income lifetime is... 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